ARK Innovation ETF (NYSEARCA:ARKK) Hits New 52-Week High – Here’s Why

Shares of ARK Innovation ETF (NYSEARCA:ARKK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $68.43 and last traded at $66.48, with a volume of 7398604 shares changing hands. The stock had previously closed at $67.02.

ARK Innovation ETF Trading Down 2.6 %

The business’s 50-day moving average is $61.06 and its two-hundred day moving average is $53.06.

Hedge Funds Weigh In On ARK Innovation ETF

A number of hedge funds and other institutional investors have recently modified their holdings of ARKK. Apollon Wealth Management LLC increased its holdings in ARK Innovation ETF by 52.8% during the fourth quarter. Apollon Wealth Management LLC now owns 6,705 shares of the company’s stock worth $381,000 after buying an additional 2,316 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of ARK Innovation ETF during the 4th quarter worth approximately $293,000. SFG Wealth Management LLC. bought a new stake in shares of ARK Innovation ETF in the 4th quarter worth approximately $224,000. Barclays PLC lifted its stake in ARK Innovation ETF by 100.6% in the third quarter. Barclays PLC now owns 65,166 shares of the company’s stock valued at $3,098,000 after purchasing an additional 32,679 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in ARK Innovation ETF in the fourth quarter valued at approximately $1,149,000.

ARK Innovation ETF Company Profile

The ARK Innovation ETF (ARKK) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that seeks long-term capital growth from companies globally involved with, or that benefit from, disruptive innovation. ARKK was launched on Oct 31, 2014 and is managed by ARK.